Opec, Russia and other producers, a group known as Opec+, agreed to cuts of 9.7 million bpd, or 10% of global output, from May 1. Opec’s share, to be made by 10 members from October 2018 levels in the case of most countries, is 6.084 million bpd. The United Arab Emirates and Kuwait also delivered extra voluntary cuts, sources in the survey said. Opec supply also fell because Iraq and Nigeria, which were compliance laggards in May and in previous Opec+ deals, made bigger cutbacks in June. Oil output in Libya has plunged since January due to a blockade of ports and fields by groups loyal to eastern-based commander Khalifa Haftar.

Source: Libya Today June 30, 2020 15:22 UTC